According to The Korea Times, Amazon.com, Inc. AMZN 3.71% is making a big push to encourage Korea’s public organizations and financial institutions to adopt its cloud service, Amazon Web Service (AWS). AWS Korea’s managing director Doug Yeum discussed the future for AWS in Korea during a press conference in Seoul on Monday.
Security A Priority
According to Yeum, the biggest concern for Korean public organizations is security. Many Korean organizations currently opt for hardware-based, on-site storage alternatives. However, Yeum says that Amazon has been pushing to change that attitude.
“It is quite possible that the nation’s public organizations and financial institutions will introduce AWS cloud services once we can handle their issues related to regulations and compliances,” Yeum said on Monday. Yeum also added that AWS has recently been in talks with several large Korean companies about large deals related to cloud services.
About AWS
AWS already has users in over 190 countries and has worked with Korean companies Samsung Electronics Co Ltd (OTC: SSLNF), Amore Pacific, Daum Kakao and NCSOFT. According to Yeum, AWS’s two leading cloud services, virtual machine service EC2 and simple storage service S3, grew year-over-year by 93 percent and 102 percent, respectively, in Q4 2014.
The Competition
Yeum pointed out that AWS’s growth rate and performance exceed those of IT competitors such as International Business Machines Corp IBM 3.42%, Oracle Corporation ORCL 0.74%, and Hewlett-Packard Co HPQ 2.71%.
In addition to Yeum’s claims that AWS is the best option for Korean businesses, he also added that it is the largest public cloud service company in the world, topping competitors Google Inc GOOG 2.16% GOOGL 2.21% and Microsoft Corporation MSFT 3.1%.
“Gartner’s 2014 data showed that our server capacity is five times larger than the sum of [the] other 14 competitors following us,” Yeum explained.
Read this article and all my other articles for free on Benzinga by clicking here
Want to learn more about the stock market? Or maybe you just want to be able to look sophisticated in front of your coworkers when they ask you what you are reading on your Kindle, and you’d prefer to tell them “Oh, I’m just reading a book about stock market analysis,” rather than the usual “Oh, I’m just looking at pics of my ex-girlfriend on Facebook.” For these reasons and more, check out my book, Beating Wall Street with Common Sense. I don’t have a degree in finance; I have a degree in neuroscience. You don’t have to predict what stocks will do if you can predict what traders will do and be one step ahead of them. I made a 400% return in the stock market over five years using only basic principles of psychology and common sense. Beating Wall Street with Common Sense is now available on Amazon, and tradingcommonsense.com is always available on your local internet!
